Experience My Finanace Site

Home Business

2007-09-26T07:40:00.000-05:00

Do you have a computer? Then you can start your own Home Business with no capital investment. One way would be to start an online business. More people than ever buy products on-line. An on-line business selling produces is as easy as creating a website. With all the templates, themes and easy start up programs, you could be up and running before you figure out what you’re going to sell. An economical way would be a non-storage on-line business that sells intangible items such as informational products, e-books or even downloadable movies. Except for your hard drive, storage would not be necessary. Also, you could sell products by creating a website on a specific market, like party favorites, wedding gifts and arts & crafts etc...

These sites are great because shipping is often used by outside wholesalers. You wouldn’t have to stock your closets and only process what you sell. No investment necessary, you could start these businesses for free.

2007-04-25T21:10:00.000-05:00

Heres a view of Marco Island from a roof top.

Beware of Auto-Withdraws

2007-04-24T21:04:00.000-05:00

The other day I just happened to stop by the local Bank to make a deposit when the teller said I’ve been over drawn. There was $66.00 worth of bank charges and the actual amount over drawn was $12.50. Knowing when by bills is due and there were three days left before I would be over drawn, what went wrong? The bank manager just happened to be available and he researched my account and discovered that this particular month my mortgage company auto drafted my account three days early.

The only recourse I have is to call or write the mortgage company asking them to please adhere to the date we agreed. There really is no enforcement or penalty preventing the mortgage company from withdrawing my account on any date. Furthermore, the mortgage companies (who have access to your bank account) can withdraw any amount they deem reasonable for extra taxes, unverified insurance for current coverage (if extra insurance is permitted) or late fees. Beware.

The Bank manager eagerly erases the $66.00 penalty and recommends writing to my mortgage company for constancy.

Chase Fraud Protector Program is Worth an Easy $30.00

2007-04-23T20:59:00.000-05:00

Every so often it seems I receive another $15.00 check in the mail for enrolling in a credit card service fraud protector program. By signing the back of the $15.00 check, you automatically enroll in the program for $7.99 per month which you will be charged via your credit card account. If you only wish to receive and take the offered $15.00 and not enroll in the fraud protection program, then you have thirty (30) days to cancel. The number to call is usually located on the back of the check.

For the fear of haggling with some high pressure sales personnel and knowing I’d probably forget to cancel, I normally rip these types of checks in half and discard. But this time I received two $15.00 checks from Chase credit card Company. Tempting as it may be, I deposited the checks.

Turns out, right before the thirty day (30) canceling period to avoid being charged for membership, I called to cancel. To my surprised, the sale’s rep. was nice and could care less if I was taking advantage of their offer and had no problem canceling both of the memberships. The phone call only lasted three minutes. Remember the old phrase, "if it's too good to be true, it probably is"? Not this time.

Stocks & Bonds Paid with More Petty Cash:

2007-04-20T21:30:00.000-05:00

A month and a week ago, I started a ShareBuilder.com account with only $200.00. Last week I added another $200.00. One of my realistic goals was to invest in the stocks using only money I can afford to lose.

Here are the results so far:

CAT CATERPILLAR INC. $109.56

MOT MOTOROLA INC $100.83

VLO VALERO ENERGY CORP $103.11

WFMI WHOLE FOODS MKT INC $101.46

Stock and ETF Market Value $414.96

Money Market Cash Balance $50.10

Total Account Value $465.06

ShareBuilder.com gave me six (6) free trades and $50.00 in my Money Market Cash Balance just for participating in their program. What a great deal so far.

Last month I tried to drop MOT & WFMI, but I traded too late and ended adding another $50.00 each. Through trail an error I’ve learned when the cut-off dates are. Next month, if I keep the resolution from last week’s post “Stocks & Bonds Paid by Petty Cash” I’m considering buying stocks the pros recommend with the $100.00 I’ve saved from not drinking as much. Is it better to drink less just so I can purchase another $100.00 of stock? That doesn’t sound like much fun.

Pound Cake Made Easy:

2007-04-17T14:32:00.000-05:00

Because of the taste, texture and easiness of baking yourself, this pound cake recipe is a must have. The recipe came out of one of my cooking magazines (Cook’s). This classic pound cake makes one 9 by 5-inch loaf:

16 tablespoons (2 sticks) unsalted butter, cold, plus extra for greasing pan

3 large eggs plus 3 large egg yolks

2 teaspoons vanilla extract

1 ¾ cups (7 ounces) cake flour, plus extra for dusting loaf pan

½ teaspoon table salt

1 ¼ cups (8 ¾ ounces) sugar

Set your oven to 325 degrees. There are only a few simple tricks:

1. Beat eggs, yolks, vanilla and set to the side.

2. Spread 9x5 inch loaf pan with butter and dust with flower.

3. Mix butter and salt first, then add sugar. Slowly add eggs.

(The trick is to add eggs a little at a time otherwise the egg proteins will form a thick film causing the cake to flatten while being baked.)

4. Sift flour a little at a time. (This takes time to slowly add the sifted flour. Try to fold in lightly to create a light batter.)

5. Bake for about 70 to 80 minutes.

Real Estate Investments Using Your IRA Account:

2007-04-16T17:42:00.000-05:00

Wouldn’t it be great if you could use your IRA retirement funds for real estate investments? How about purchasing rental property using your IRA tax breaks? This is possible if you use a qualified trust company that acts as your custodian account holder. You can even transfer your corporate entity like a limited partner (LP) or a limited liability company (LLC) into a trust account. There are a few catches though:

You cannot use your family, relatives or your own property for these types of accounts. The IRS would consider you as a disqualified person. Or use your property for any personal use. The property has to be strictly for investment purposes only.

If you are under 60 years old and decide to use your property, you would have to close your trust account and pay taxes and other penalties.

Earnest deposit money for the purchase of investment property must first be transfer to your trust company. After you receive your IRA number, the trust company would pay for the down payment. Remember, investment property cannot directly be in your name.

All properties being financed and transferred to your trust company would require a non-recourse promissory note. The lending institution can only look to the property for securing the note for collateral. The trust company would not be responsible for any un-paid taxes or delinquent payments and there could be unrelated business taxable income such as state taxes.

Mobile homes, time shares, foreign real estate wouldn’t count. If you purchase property through a foreclosure, auction or tax sale, you would have to close the sale first before you can transfer into your trust.

Earnest deposit, insurance, taxes, debt or other expenses must be paid by your trust company to any unrelated third party. Your name cannot be directly connected to any payments for you to maintain IRA status. It would be wise to have all your utilities, etc. sent to your own address so you could authorize the payments to be paid by your trust company. All expense payments should come from your trust account and of course not in your personal name.

Rental producing properties require a third party property manager. If not, the IRS would consider you as a disqualified person. If the trust company receives a monthly or quarterly income & expenses statement, the property manager can pay for expenses from rent monies. If you carry liability insurance then the policy would be in your trust account, not your personal name.

Appraisal would be required every three years in order to update your IRA account. You may use a real estate broker if accepted by your trust company.

You may sell your property and even have your trust pay for the financing of the sale. The proceeds would be given to your trust then transferred for you to reinvest the cash however you choose.

Using tax breaks and creative financing for leverage while investing in a property for 30 or 40% below market value, I believe you would exceed the standard IRA’s and be on your way to a successful retirement.

Free Credit Scores & Why You Should Check All Three Credit Bureaus:

2007-04-12T20:27:00.000-05:00

A month ago, I paid about $24.00 to receive all three of my credit scores. For the same three credit scores, too bad I didn’t simply go to http://www.free-credit-score.com/freecreditscores.html?sid=EF201. Oh well, I flushed $24.00 down the toilet.

Here are the results.

TransUnion Vantage Score: 920

Experian Vantage Score: 916

Equifax FICO Score: 755

Although Experian or TransUnion wouldn’t hugely deplete my Vantage Scores, Equifax FICO penalized me for opening new credit card accounts. Here’s how Equifax explains the key factors that effect my FICO score.

"The time since your most recent account opening is very recent"

"You have too recently been seeking credit or other services as reflected by the number of inquires posted on your credit file in the last 12 months "

"The length of time your accounts have been established is relatively short."

Maybe if I quit chasing after the best credit card deals, Equifax FICO might give me a break.

Experian read like this:

"Number of inquires was also a factor, but effect was not significant."

Seems like Experian could care less if I chase after credit card deals.

TransUnion reads:

"The number of inquiries on your credit report has adversely affected your credit score."

TransUnion sure has a problem with my credit card endeavors.

Even though I paid $24.00 like a sucker for the 3 credit scores, it was worth it because Equifax collected false information. After correction, my FICO scores twisted from 731 to 755.

Dressing the Bathroom with Marble & Granite:

2007-04-11T20:33:00.000-05:00

Now that the carpet had been laid through out my town home, it’s time to rip out the downstairs bathroom. The third half bath is the last project of my remodeling venture.

It’s been almost a month now since I had my kitchen floor grout ridden tiles replaced with marble. What a difference. The white tiles wasn’t so bad, it was the grout that bothered me. Dirt and scum adheres to grout. Not a great combo for a kitchen. In the third half bathroom we also replaced the old dated fire hydrant yellow tiles with the same marble to match the kitchen (travertine). Yes the kitchen and half bath are neighbors. So now my half bath is half naked, waiting for a new wardrobe and makeover.

We raised the vanity upwards 34.5 inches so it hovers off the floor. Meanwhile the vanity top is being fabricated in a warehouse in Naples. The vanity top is made out of rare crystal golden granite which I picked out of an old marble & granite graveyard. A guy name Max is doing the honors with his masterful craftsmanship shaping the bow-noise and the inward concave bowl. Every now and then I like stopping by for a visit. http://www.marble.com worked for me before and they perform excellent quality work.

After the golden granite is placed atop the vanity, I’ll throw on my butt crack plumber paints and get to work. After the pluming, onto the baseboards, then the paint and replace the light fixture. Oops, almost forgot the toilet.

Expand Your Earnings and Make More Money by Using Ulternative Recourses:

2007-04-10T20:57:00.000-05:00

Ever wonder what happens when you suddenly fall and the bull ride is over? If for whatever reason you lost your job, would you have to rely on unemployment to barely get by?

Everybody one day loses their job for one reason or another. We all go through it. Unless you’re having a burning love affair, wondering how you’re going to pay bills is stressful after the flame goes out.

In today’s world it’s not wise to only have one source of income. If you have one job and no other income, then it’s high time to change your ways.

The obvious idea would be to start an online business. More people than ever buy products online. Online business is as easy as creating a website. With all the templates, themes and easy start up programs, you could be up and running before you figure out what you’re going to sell. An economical way would be a non storage on-line business that sells intangible items such as downloadable movies, E-books or even informational products. Except for your hard drive, storage would not be necessary. Also, you could sell products by creating a website on a specific market like party favorites, wedding gifts and themes, “restock your herbs” or “your local hardware store”. The beauty of these types of sites is the shipping is often used by outside wholesalers. You wouldn’t have to stock your closets and only process what you sell. No investment necessary, you could start these businesses for free.

My thing is real estate. Right now the market is not in my favor, so I’m looking into other resources like foreclosure sales, probate, HUD, expired listings, rentals, tax sales, US marshal sales and even debating buying a billboard. (More on this later.)

Never keep your eggs in one basket. If you desire independence, then income from other sources is a must have. Except for real estate, I’ve haven’t been thinking about alternative ways of making money lately, but in the next couple of weeks I will, just to show you how easy it is. If you have no other income and solely depend on your job, then at least consider a roommate. It’s cheaper to live with two, than one.

Surfers Beware of Agloco Scams & It's Free:

2007-04-09T17:20:00.000-05:00

In an effort to clean up un-used space, I’ve just finished deleting Yahoo view bar from my notebook. Google view bar is enough and I don’t need three or four search engines on my screen. The last thing I’m thinking about adding is another view bar when the third hemorrhoid of the day emails me about Agloco.

For those who are under the e-rock, Agloco is a company who claims to be the first economic network own solely by its members. Well, technically their members, for now. Agloco holders are the same Stanford MBA stars (Jim Jorgensen, Johannes Pohle, Carl Anderson, and Oliver Brock) that kicked out AllAvantage back in 99’. AllAvantage paid hymroids $$$ to surf the net. They went bankrupt a couple of years later. Beware, the Kenneth Lay protégés are back in the saddle again. (This is an inside joke, my b.)

AllAdvantage like its younger stepbrother Agloco, make their money through advertisements, software companies, advertisers, Search companies, On-line Retailers and Sponsors. Every time the “Viewbar” is used from an Internet search, Agloco makes money through a referral fee. For example, Google pays as much as $0.10 for each search. Agloco also collect $$$ from advertising referral fees, transaction commissions and the like.

Although there is no cash, shares of stock or an Agloco “Viewbar” to automatically record the time you are on line, Agloco is offering a piece of the pie. All you have to do is visit their site http://www.agloco.com/r/BBDB3684 and sign up to earn shares of stocks. If this doesn't sound like it makes sense, heres why; Agloco are basically writing IOU's. Legal or not, their doing it (genius).

Forget wasting time on referrals, I’m buying their stocks now, these guys are smart. Oops forgot, there’s no stocks.

They’re rules to this method of madness. After the beta “Viewbar” is up and running, register surfers get a max of five (5) hours a month at the Board of Directors discretion. Also, the Board reserves the right to pluck anyone out of their earnings. Wait, there’s more. Hymroids earn from their referrals too, five deep. So you better behave or lose any benefits.

Agloco membership is absolutely free. All you have to do is sign up, download a free copy of the “Viewbar” software and start referring to family and friends. What do you have to lose, your dignity and honest repetition? Probably. Do you really wish to share Agloco with family and friends, when you know the concept had already failed? What if you spend time and energy referring a huge growing list of hymroids, just to see history repeat itself? Plus putting up with another “Viewbar” that would likely be prone to bots and psycho hackers. The viewbar will slow down your computer.

Let’s look at some facts. The general idea had failed before, so what’s the difference? The main ingredients this time is there's no cash, shares of stock or “Viewbar”. Hype with no substance, brilliant. Mamma’s college tuition really paid off this time. If you look at the risk (time and energy) these mastermind’s are taking from receiving free advertisement (brilliant), you know they are going to take a big bite out of the pie before anybody sees any public cash flow. Not that they wouldn’t deserve it. After months of waiting for a payback, wouldn’t you and all the other hymroids cash in those high dividends? How much would the stocks be worth then? (Lucky if you get a handshake.)

If the “Viewbar” is unaccessible by the psycho hacks and bots, I believe Agloco will be around for a long time. Why wouldn’t they? They’re not paying for anything. Have you seen their website? Yes it’s cheesy, probably costs twelve dollars. So why don’t you get involved? I’ll tell you why, because you’re going start your own on-line business and make much more money. (More on this subject later.)

The “Viewbar” should be out by April 16, 2007. Honestly I couldn’t put up with another view bar on my screen, but if you’re interested in registering with Agloco, tell them just an average dude sent you. Ha ha. http://www.agloco.com/r/BBDB3684.

Free $250.00 Bonus, Credit Card Company, Best Deal:

2007-04-06T21:35:00.000-05:00

Chase is back again offering a free Chase Freedom Card $250 bonus for first time members. The reason I’m assuming its first time members, because they won’t accept my seconded application. A free second $250.00 bonus would deserve a third attempt.

They're also offering 3% cash back on groceries, gas and quick service type restaurants and 1% on every thing else. This is the single best credit card deal out right now, hurry won’t last long.

Stocks & Bonds Paid By Petty Cash:

2007-04-05T20:27:00.000-05:00

Less than four weeks ago, I bought these shocks through a ShareBuilder.com for $50.00 per stock. Once a month I’ll allot $200.00 to an electronic fund transfer (EFT) into this Sharebuilder account. The reasoning of my cheapness in my humble opinion (imho), let’s faced the facts, investing in stocks is risky business, even if you know what you are doing (which I don't).

All these stocks were in their glory days at one time. Take VLO for example, in the last year VLO sold at a high of $70.75 per share. If you look at the chart I bought at a low, according to statistics. Basically, I did the same for all these aspiring stocks. Buy low, hoping to sale high.

These stocks were bought less than four weeks ago for $50.00 each:

CAT CATERPILLAR INC $67.63 $0.15 0.7776 $52.59

MOT MOTOROLA INC $17.59 ($0.13) 2.7027 $47.54

VLO VALERO ENERGY CORP $66.01 $0.08 0.8172 $53.94

WFMI WHOLE FOODS MKT INC $45.38 $0.29 $49.66

Stock and ETF Market Value $203.73

Next week, I’ll decide what the $200.00 worth of stocks will be. Maybe I should try buying what the pros recommend. Don’t they use the dartboard? The object of my experiment is to only invest in what I can afford to lose. Also, if I can honor what I wrote April 4, 2007, then I’ll have another $150.00 to parlay.

April Expenses & April Showers Brings May Flowers:

2007-04-04T22:24:00.000-05:00

The whole month of March, I saved every receipt and documented with http://www.pearbudget.com/, even receipts from coffee purchases. The real reason for fiddling with collections of receipts is to keep track of exactly where my pennies are going. Even for a simple cup of coffee.

Here are my findings:

Coffee: $37.51

Food: $399.44

Beer & Wine: $145.50

It’s ridiculous how much I’ve spent on COFFEE!!! Also, I guess I’m an alcoholic. The beer and wine was mostly spent in supermarkets. What does that tell you? Yep, I’m an alky. And seeing that I’m single, a hundred dollars a week is a lot of money to spend just for food.

Time for another lifestyle change: For the month of April, instead buying wine & brew ha ha’s, at the end of the month, I’m going to invest in a stock. The money I save from not buying alcohol and cutting back on food, will be allotted for a stock of choice.

By not squandering money on beer & wine, also cutting back a little on food, let’s see what I’ll do with the $150.00 and what stock of choice would be purchased at the end of the month (April).

Buying Carpet with Competitive Bids:

2007-04-03T20:46:00.000-05:00

It’s time to purchase new carpet. The existing carpet is less than five years old and is already tired. The padding had been trampled on by too many tramps. No more cheat carpet, tried of living like a college boy trying to save a buck. After selecting a favorite style, brand name, texture, fiber and padding, I’m ready to buy the best quality carpet at a competitive price. Vendor specifications:

Shaw Wine Country Carpet, Carmel leather #00201, grade three (3 is the highest grade for this style type.) and an up-graded eight (8) pound padding. Turn-key installation included.

The choices are as follows by the order of vendors with the same specifications:

Home Depot:

$3,638.00 - $4.39 sq. ft.

House of Carpet:

$3,100.00 - $3.74 sq. ft.

Lowe’s:

$5,001.00 - $6.04 sq. ft.

Diamond Carpet:

$3,350.00 - $4.05 sq. ft.

Before selecting a company, I made sure the installation included pad ramps to ensure evenness with the marble kitchen floors. And after questioning the different installers who measured the rooms, I got a good feel of who would better lay down the carpet with skilled workmanship. The choice was House of Carpets, because the price was right.

Realistic Goals to Ensure Weath & Happeness:

2007-04-02T20:37:00.000-05:00

Retirement hadn’t been a big issue with me, because I’ve been investing in real state. Meaning, instead of maximizing yearly tax free IRA’s and the like, I’ve been using the money for down payments for real estate purchases. Could I’ve invest in both IRA and real state? Yes, if I sacrificed funding for vacations, remodeling the home and simple pleasures.

Here are my realistic goals:

Stocks: Start a Sharebuilder account and regularly fund monthly with petty cash.

Asset Protection: Either create a living trust with a LLC or at least write a basic Will.

Tax Sales: Purchase a County tax lien or tax deed certificate.

Real State: Seek out County foreclosures from tax sales for a minimum of 35% below market value.

Surely I could complete these goals by the end of summer.

2007-04-01T12:49:00.000-05:00

My money is

Up our climbing tree

I left it there when I skinned my knee

Unbelievable, Winning the Lottery is not always what its Cracked up to be:

2007-04-01T12:34:00.000-05:00

I’ve just won the Florida lottery!!! So now I’m going to quit my job, leave my girlfriend and move into a huge house far far and away. April fools.

Wouldn’t winning the lottery solve all your money problems?

Be careful for what your wish for. Remember back in 99’ when Billie Bob Harrell Jr. won a $31 million lottery, only to take his life 20 months later? Or what ever happen to that “fat naked guy”? Yes you remember, Richard Hatch from Survivor who won a million dollars, but then found himself in jail for tax evasion? How about my favorite, Evelyn Adam who won $5.4 million from a New Jersey lottery and today the money is gone and now lives in a trailer.

Give me a million dollars and I’ll find a ways to stay happy. Try saying that to Andrew Whittaker’s wife Jewel. Her husband Andrew Whittaker won a Powerball $314 million jackpot. Later, Jewel had quoted, “I wish all of this never happened. I wish I would have torn the ticket up”. There was a method to her madness? Maybe Jewel was traumatized by the sudden influx of money her husband had won. Encounters with the law and his attitude probably didn’t help either.

We already feel guilty squandering our hard earned money on things we could live without. If you won the jackpot, would you do the same but on a higher level? Yes probably. So what would this tell you? If you can’t hold on to your pennies, you won’t hold on to your dollars? Watch this.

Have you ever heard the old phrase, “A fool and his money are soon parted”? How about, “A penny wise and pound foolish”? A modern version would be, “A penny smart and dollar dumb”. The proverbs teach us two things, the smart and wise hold on to their money while the dumb and foolish don’t. Also, many people are good at saving their pennies only to see the savings vanish by a blunder of their dollar. Mama always say’s, “what stupid is as what stupid does”.

Once I read that “Money is good for nothing unless you know the value of it by experience”. This would be true because of the lack of experience, the dollar would easily decline. When I was five years old, a neighborhood kid came by to play with my rabbits. He offered me a choice of either a dime or a nickel to purchase one of them. Because it was bigger, I choose the nickel. It didn’t take long thereafter to discover I was bamboozled. The lack of experience was the cause of my bad choice.

Although I won’t be playing the lottery anytime soon, if I found myself with a large lump sum of money, I would deposit in a bank for months before committing to a sound investment. More importantly, it would be a crying shame to see all that character we had built through blood, sweat and tears, peeled away from a sudden hit of the jackpot.